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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
 Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but involve relatively small steps or lack specifics to support a meaningful improvement in the short-term. There are entrenched structural issues affecting the performance of the power sector of India and the solution would require a sustained and disciplined policy focus.
Fitch Ratings further said in its latest report that, the Indian budget for FY15, the finance minister announced several measures for the power sector. These include an extension of the tax holiday for power projects to March 2017 from March 2015, which we consider to be positive for investment activity. The budget also called for the provision of adequate quantity of coal to power plants commissioned by March 2015. However, the budget lacked very specific measures detailing how this will be achieved.
Fitch believes that it will not be possible to raise the production of coal significantly within a year. Aside from inadequate domestic production, infrastructure bottlenecks such as rail infrastructure also continue to act as a constraint to ensuring adequate coal supplies to power plants. Among the announced measures is the rationalisation of coal linkages to reduce transportation costs of coal; while this is a good measure, we believe such a reallocation of coal resources would have operational issues and can take some time to achieve.
Domestic coal production is much lower than the requirements of the power sector, and hence we think the coal shortage at various power plants will continue. India's total coal based power capacity at April 2014 was around 140 gigawatts (GW). This is expected to increase by around 15GW per year, which would require an additional 60 million tonnes of coal. There needs to be a sustained and long term plan in order to consistently increase domestic coal production.
The new administration has intensified pressure on Coal India Limited to improve its coal delivery. At the same time, the agency understands the government may revive coal pooling (i.e. pooled prices by combining both domestic and imported coal) as the country will have to import higher quantities of coal to support demand given that domestic production may be slow to ramp-up.
India also has around 20GW of gas based power plants which are severely affected due to the low availability of domestic gas. The budget also focuses on the renewable sector - most notably solar - for which there is an allocation of INR10bn for setting up solar plants in a few states and solar power driven agricultural pump sets.
The entire ecosystem of the power sector - from generation to distribution - needs to be strengthened. The financial health of the various state utilities needs to be improved through tariff rationalization and by addressing transmission and distribution losses.
About Fitch Ratings
For 100 years, Fitch Ratings has been making the future a little more predictable through independent and prospective credit ratings, commentary and research. Our global expertise draws on local market knowledge and spans the fixed-income universe. The additional context, perspective and insights we provide have helped the world’s investors fund a century of growth.
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Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Australian Coal Association
- CNBM International Corporation - China
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
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